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Durable goods are just that: hard goods; they don't wear out quickly and can be used over and over again for at least several years. Think your car, TV, refrigerator or computer. These are certainly not disposable, one-time use items.
The opposite of a hard good is (surprise!) a soft good or, if you like, a non-durable good. These are products you use once, like your lunch at McDonald's, the gas in your car and the ugly sweater your grandmother bought you for your birthday. These items have an intended lifespan short of three years, or are consumed immediately.
Investors pay attention to the monthly durable orders report released by the Commerce Department around the end of each month. When durable goods are strong, it means that U.S. manufacturing is humming along, though economists tend to parse the numbers pretty closely. Big-ticket items can skew the overall results, since an order for, say, 75 Boeing 747s has a bigger impact than 75 iPods. Luckily, the data lets economists break down the sectors.
Home / Markets / Industries / Transportation
Thursday, March 27, 2008
American Airlines, Delta Cancel More Flights
Associated Press
DALLAS --American Airlines and Delta Air Lines (DAL) canceled dozens of flights Thursday as they continue their inspections of wiring
bundles on some of their planes.
American, the nation's largest airline, canceled 132 flights of its estimated 2,300
flights scheduled for Thursday, spokesman Tim Wagner said. That was about 6% of American's Thursday schedule after the Fort
Worth, Texas-based airline canceled 325 flights on Wednesday.
Delta expects about 275 cancellations through early
Friday, affecting about 3% of Delta's worldwide flight schedule, said spokeswoman Chris Kelly. About 70% of Delta's MD-88
fleet was to be inspected by early evening Thursday, with normal operations planned by early Friday, she said.
American
said it began its inspections after an audit of the carrier by a joint team of inspectors from the Federal Aviation Administration
and the Fort Worth-based airline. The inspections focus on proper spacing between two bundles of wires in the plane's auxiliary
hydraulic system, and those wires must be installed exactly according to an FAA directive, American said.
American
has completed inspections on 243 MD-80 aircraft, and about 45 planes "are still being worked on," Wagner said Thursday.
"We
expect all but a few to be back in service by tomorrow," he said.
Delta expected heavy volumes Thursday at its hub
at Hartsfield-Jackson Atlanta International Airport, Kelly said. Both Delta and the Transportation Security Administration
were bringing in extra staff to handle the crowd of travelers, she said.
Kelly said she didn't yet have estimates
on how many passengers were affected by the flight cancelations.
The inspections come almost three weeks after the
FAA ordered a check of all U.S. airlines' maintenance records. That was after controversy erupted over its handling of missed
safety inspections at Dallas-based Southwest Airlines.
The FAA hit Southwest (LUV) this month with a $10.2 million
civil penalty for missing the inspections and then continuing to fly the planes with passengers on board even after realizing
the mistake. Southwest has said it will appeal the penalty.
The FAA said then that it would check compliance with
at least 10 safety orders, called airworthiness directives, at every airline by March 28. The agency said a full audit covering
at least 10% of all safety directives will be finished by June 30.
Southwest said it reported the missed inspections itself, and that manufacturer Boeing agreed that keeping the planes in operation until they could be re-examined within 10 days didn't pose a safety hazard. Six of the jets required repairs for small cracks. Those repairs have been completed and the planes returned to service, Southwest spokeswoman Marilee McKinnis said Thursday.
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